Angola: TotalEnergies and Inpex sell their subsidiary Angola Block 14 BV

TotalEnergies and Inpex have agreed to sell their subsidiary Angola Block 14 BV to the Angolan company Somoil for an undisclosed price.

Angola Block 14 BV, owned by TotalEnergies Holdings International BV (50.01%) and Inpex Angola Block 14 Ltd (49.99%) holds a 20% interest in Block 14 in Angola and a 10% interest in Block 14K.

The offshore blocks have been producing since 1999. Angola Block 14 BV net production was 9,000 barrels of oil equivalent per day in 2021.

"By divesting this interest in mature fields, TotalEnergies is implementing its strategy to add value to its oil portfolio, focusing on low-cost, low-emissions assets," said Henri-Max Ndong-Nzue Senior Vice President Africa of TotalEnergies Exploration & Production.

"TotalEnergies remains the leading energy player in Angola, through its leading operational position in the deep offshore, its participation in Angola LNG and in a first solar power project, Quilemba Solar, located in the southwest of the country."

Through IAB14, INPEX held 49.99% of the shares of Angola Block 14 BV, an affiliate of TotalEnergies, thereby indirectly holding a 9.99% interest in Offshore Angola Block 14 (the Block) in the Republic of Angola and a 4.99% interest in the Lianzi Field in the Offshore Area divided equally between the Republic of Angola and the Republic of Congo, where it participated in the development and production of crude oil.

Chevron is the operator of the two offshore blocks.